926 - Administration of Economic Programs
Understanding NAICS codes is essential for businesses and professionals seeking opportunities within government sectors. NAICS Code 926, titled Administration of Economic Programs, plays a crucial role in managing and implementing economic initiatives to boost growth and stability across various governmental levels. In this blog post, we'll dive deep into what NAICS code 926 encompasses, its sector, business types, and key details you need to know for eligibility and contracting.
What is NAICS Code 926?
NAICS Code 926 covers establishments primarily engaged in the administration and oversight of economic programs administered by governmental bodies. These programs often address economic development, regulation, and assistance efforts aiming to promote sustained economic growth, support businesses, and ensure regulatory compliance.
Sector Overview: Public Administration
NAICS 926 falls under the Public Administration sector, which includes government agencies responsible for the day-to-day governance and implementation of laws, programs, and services. Specifically, NAICS 926 focuses on economic programs that influence the economic landscape at the federal, state, and local government levels.
Typical Business Activities under NAICS 926
Businesses and government entities engaged in the following activities typically fall under this NAICS code:
- Economic Development Agencies
- Government Offices Administering Economic Assistance Programs
- Regulatory Agencies Overseeing Economic Policies and Programs
- Management and oversight of financial assistance programs
- Implementation of policies aimed at economic stabilization and growth
- Administration of grants or loans supporting businesses and communities
NAICS Code 926 - Code Details Table
| NAICS Code | Title | Sector | Description | Typical Businesses | Size Standards (Employees or Revenue) |
|---|---|---|---|---|---|
| 926 | Administration of Economic Programs | Public Administration | Government establishments primarily engaged in administering economic development, regulation, and assistance programs. | Economic development agencies, government economic assistance offices, regulatory agencies. | Varied; generally, government agencies or small businesses with contracts up to $41.5M (subject to SBA standards) |
Size Standards & Eligibility for NAICS Code 926
Size standards for eligibility under NAICS 926 primarily depend on contract size and the nature of the entity involved. Since this code pertains mainly to government establishments, small businesses providing related support or contracts must follow Small Business Administration (SBA) regulations, which often specify:
- Maximum average annual receipts up to $41.5 million for small business eligibility
- Employee size limits depending on contract specifics and service type
Always verify current SBA size standards as they can update annually.
Examples of Businesses and Agencies Under NAICS 926
- State Economic Development Departments managing grant programs for local businesses
- Federal Regulatory Bodies overseeing agricultural or industrial economic activities
- Local Government Offices providing business assistance and loan programs
- Nonprofit Organizations contracted by governments to deliver economic aid services
FAQ: NAICS Code 926 - Administration of Economic Programs
Q1: Can private companies fall under NAICS 926?
A: Primarily, NAICS 926 refers to government entities. However, private companies acting as contractors or subcontractors administering government economic programs may engage in activities under this code.
Q2: How does NAICS 926 support small businesses?
A: Through economic assistance programs, grants, and regulatory oversight aimed at fostering business growth and stability in multiple sectors.
Q3: How can businesses leverage NAICS 926 for government contracting?
A: Businesses can seek opportunities to support or provide services related to economic program administration, including consulting, program management, or evaluation services aligned with government contracts under this NAICS code.
Q4: Is NAICS 926 linked with other economic-related NAICS codes?
A: Yes, it often interfaces with codes related to economic consulting, social assistance, and regulatory advisory services.
Conclusion
NAICS Code 926 - Administration of Economic Programs is an essential classification within the Public Administration sector that embodies government efforts to promote, regulate, and assist economic activities crucial to national and local economic health. Understanding this NAICS code can open pathways for businesses interested in government contracts or partnerships focused on economic program implementation.
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